The income statement and additional data of Barnaby Travel Products, Inc., follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Barnaby's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation. Requirement 1. Prepare Barnaby's statement of cash flows for the year ended December 31, 2018, using the indirect method. Start by completing the cash flows from operating activities. Then complete each section of the statement of cash flows, including the noncash investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net More Info Barnaby Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 X Data Table 39000 Barnaby Travel Products, Inc. Income Statement Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by (used for) operating activities: Depreciation Decrease in accounts receivable Decrease in inventory Increase in prepaid expenses Increase in accounts payable Additional data: a. Acquisition of plant assets was $156,000. Of this amount, $104,000 was paid in cash and $52,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $39,000. c. Proceeds from the issuance of common stock totaled $31,000 d. Payment of a long-term note payable was $16,000. e. Payment of dividends was $8,000. f. From the balance sheets: Year Ended December 31, 2018 Revenues Service revenue $ 236,000 8,500 $ 244,500 28000 16000 420001 -1800 15000 55000 December 31, 2018 2017 154200 Increase in accrued liabilities Net cash provided by (used for) operating activities Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense 193200 Current assets: Cash 96,000 60,000 28,000 4,700 2,800 14,000 $ 170,000 47,000 30,000 Accounts receivable Inventory $ 33,200 63,000 72,000 8,800 Income tax expense 205,500 Prepaid expenses 9,000 Net income $ 39,000 Current liabilities: Accounts payable Accrued liabilities Print Done $ 34,000 90,000 $ 19,000 35,000 Choose from an lint field and then aliol Chool